DALLAS, TX. July 15, 2014 /PRNewswire/ -- Central Oil & Gas Corporation of America (the "Company") today announced the closing of an April 23, 2014 acquisition agreement whereby Central E&P Holdings, LLC (Central E&P), became a wholly owned subsidiary of the Company in exchange for shares of the Company. Central E&P has assignments of oil leases including existing producing wells and equipment within the United States.

The Company has contracted with an experienced oil and gas drilling team to manage drilling operations of the Company. The Company intends to continue to add experienced drilling teams for its projects – each of these teams being designated a “Tiger Team.” Commencement of new drilling operations depends on adequate funding of at least $3 million, which the full funding has not yet been attained as of the date of this press release.

Central Oil & Gas Corporation of America is an independent, private, early stage oil and natural gas company formed to acquire, drill and exploit oil and natural gas properties and interests in America. The Company focuses on fields that have a proven track record of production or have independent engineering reports showing possible or probable oil reserves.

This release includes "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.

This press release is not an offer of securities or a solicitation of an offer to purchase any securities. We caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond our control, incident to the exploration for and development, production, gathering and sale of natural gas and oil. These risks include, but are not limited to: the consummation of the acquisition, the ability to finance the drilling and development of the project assets; the timing of the development of the project; commodity price volatility; inflation; lack of availability of drilling and production equipment and services; environmental risks; drilling and other operating risks; regulatory changes; the uncertainty inherent in estimating oil and natural gas reserves and in projecting future rates of production, cash flow and access to capital; and the timing of development expenditures.